The principal of Retirement Wealth Advisers, James Howarth, attacked the MP on Twitter yesterday for supporting a proposal on the remuneration of life insurance sales staff that would cut large upfront commissions for financial advisers.

“What a cock sucker. First course of action was to regulate insurance salaries. Tinkering Jew,” Mr Howarth tweeted to his 5855 followers.

“Slap stick comedy Jew Frydenberg stars in Deregulating Regulator Regulating,” another tweet read.

Another says: “Get your Josh Frydenberg ‘Central Planning Jew’ punching bag ...”

Mr Howarth told The Australian he stood by his “right to free speech” and ability to “defend” his rights.

Mr Frydenberg, who is Jewish, said he blocked Mr Howarth on Twitter after receiving the stream of abuse. “This nasty, personal and ­derogatory language is not becoming of a financial adviser, let alone anyone else, and is completely over the top,” he said yesterday.

The changes — first proposed by the life insurance industry — would cap controversial advance commissions to 60 per cent of a policy’s premium in the first year. Upfront commissions on retail life insurance have been as high as 120 per cent but advisers would face a commission cap of 20 per cent on life insurance premiums. under the proposals.

According to his LinkedIn profile, Mr Howarth spent six years as an equity analyst at international investment bank Goldman Sachs.

Asked whether it was necessary to voice these concerns using derogatory language and with reference to race and religion, Mr Howarth responded: “Yes I stand by my comments.”